Gold has been shining bright this year as it slowly creeps up with higher lows. It kept getting stopped at the 123 level – until Monday. It zoomed past that barrier on strong turnover, something I like to see. It has certainly suffered from fits and starts, but given the uncertainties around the world, it makes sense to see interest in precious metals. Even silver has been shining brighter lately.

The MACD is still on a bull signal, while money flow is also strongly positive after a weak July. I would like to see follow through here in the next day or so. If that happens, it may rise toward 1350 with relative ease. With some weakness in the dollar, there is room for gold to move toward higher ground.